Introduction to Blockchain Technology Blockchain technology is a decentralized, distributed ledger that records transactions across multiple computers. This ensures that the recorded transactions cannot be altered retroactively, providing a secure and transparent way to track assets and data. Each transaction is stored in a block, and these blocks are linked together in a chain, hence … Read more
In March 2024, the U.S. Government Accountability Office (GAO) released a comprehensive report on port automation, highlighting its adoption and varied effects across U.S. ports. This report comes at a critical time as the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) face a January 15, 2025, deadline to resolve their ongoing … Read more
The North-South trade routes, crucial for the seamless movement of goods between the northern and southern hemispheres, are currently grappling with significant disruptions. The ongoing strike by the International Longshoremen’s Association (ILA) has exacerbated existing challenges, leading to severe schedule woes and congestion at major ports. The Impact of the ILA Strike The International Longshoremen’s … Read more
What is the De Minimis Rule? The de minimis rule is a trade regulation that allows low-value shipments to enter a country without being subject to duties and taxes. In the United States, this threshold is set at $800, meaning that goods valued at $800 or less can be imported duty-free. This rule simplifies the customs … Read more
Starting on January 1, 2024, the EU Emissions Trading System (ETS) will include shipping, marking a significant step towards reducing greenhouse gas emissions in the maritime industry. This system requires ship operators to monitor and report their emissions, purchasing allowances for every ton of CO2 emitted. The goal is to incentivize the reduction of greenhouse … Read more
Last week, the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) reached a tentative agreement, marking a significant step towards resolving the recent port strike that had disrupted operations along the East and Gulf coasts. This blog delves into the key aspects of the settlement, the outstanding issues, and the broader impact … Read more
As the September 30 deadline for the master contract between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) approaches, concerns are mounting over a potential strike commencing on October 1. This agreement impacts 45,000 dockworkers across 36 key ports from Maine to Texas, making the stakes incredibly high. Immediate Actions Recommended … Read more
The liquidation process by U.S. Customs and Border Protection (CBP) is a crucial step in finalizing the duties and taxes on imported goods. Here’s an illustration of the process: 1. Entry Filing: Importer Declaration: The importer or their customs broker files an entry summary (CBP Form 7501) with CBP, declaring the imported goods and providing … Read more
When it comes to international shipping, choosing the right method can significantly impact cost, efficiency, and the condition of your goods upon arrival. Here’s a comprehensive breakdown of the various options available: 1. Sea Freight Dry Containers Description: Standard containers used for most types of cargo. Best For: Non-perishable goods like electronics, textiles, … Read more
In recent years, the role of customs brokers has evolved significantly, driven by increased scrutiny from U.S. Customs and Border Protection (CBP). This heightened focus is compelling brokers to invest in advanced technology to better understand and manage the regulatory risks their shipper clients face. While the mandate for technological investment has always been implicit, … Read more
Navigating Global Trade with Insight and Precision